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MSME Loan @8.50% Onwards

o Get loan up to 2 Crore o Simplified document processing o Flexible repayment period
Enquiry Form
MSME Loan
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Tenure (Month) Insurance Cover Fees Forclosure Charge
HDFC Bank Ltd
8.50%
1%
12
1.50% - 2.00%
1%
Small Industries Development Bank of India (SIDBI)
8.00%
1%
84
1.50% - 2.00%
1%
State Bank of India
8.50%
1%
12
1.50% - 2.00%
1%
Axis Bank Ltd.
8.00%
1%
12
1.50% - 2.00%
1%
Standard Chartered Bank
13.50%
1%
12
1.50% - 2.00%
1%
Bank Name Min Interest Rate
HDFC Bank Ltd

8.50%

Small Industries Development Bank of India (SIDBI)

8.00%

State Bank of India

8.50%

Axis Bank Ltd.

8.00%

Standard Chartered Bank

13.50%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by MSME loan Eligibility Criteria?

MSME Loan for new business & existing business, you can avail this type of loan for development of infrastructure, to meet day to day operational capital, purchasing new equipment & machinery. The best part of the loan is you don’t require to pledge any collateral or assets.

MSME loan Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.

Eligibility Criteria

  • • Age Limit of Individuals - 22 to 60 years
  • • Individuals, Proprietary concerns, Partnership firms, Companies (Private & Public), Trusts (Private Trusts), Limited Liability Partnerships
  • • Minimum 2 years of business continuity
  • • Minimum 1 years of audit by registered chartered accountant
  • • Minimum turnover of business should be 90,000

Note: - It would range from minimum 5 Lakh to maximum 1 Cr.

What are the factors generally affecting MSME loan Eligibility Criteria?

There are top factors that generally affects construction loan eligibility criteria as given below: -

Lack of good credit report: - Your past financial behavior going to determine your future financial stability. Therefore, if in past years missed to do payments on timely manner, then probably you will looser the chances of getting loan.

Bad cash flow: - Lender want to check know about your company cash flow management, whether you are managing well or not, if it seems to be bad cash flow then possibility of chances gets lower.

What are the ways to increase MSME loan eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Maintain good record credit: - Lender usually check whether you are maintaining good credit by making payments on time & avoiding having multiple credit cards, if you are practicing these methods to maintain good record of credit, it will enhance your eligibility towards getting a loan.

Do paying tax on time: - This is one of the major methods to increase eligibility, take initiate to do paying tax on time to build credit score improve as well as lender confidence level increases.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  11. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. . 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. . IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  16. ALL DIRECTORS PHOTOGRAPH
  17. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  18. ADDRESS PROOF – COMPANY AND DIRECTORS.
  19. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  20. MEMORANDOM
  21. ORDER IN HAND AND COMPLETE COPY (if applicable)
  22. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  23. 1 YEAR GST RETURNS
  24. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  25. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  26. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  27. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  28. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  29. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  30. AGREEMENT TO SELL COPY
  31. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

Is there any turnover limit set for msme to get loan?

Yes, enterprises to enterprises it may vary as below given: - 

  • For micro enterprises turnover limit is upto 5 Crore 
  • For small enterprises turnover limit is upto  25 Crore 
  • For medium enterprises turnover limit is upto  250 Crore

How to get msme loan for new business?

You are required to request loan application form it can be done online & offline both, Fill the required details with correct values, upload online or submit offline with form to get approval & sanction quickly.

Does my industry come under msme business loan sector?

MSME Loan is provided to those businesses which come under manufacturing & services industries. Therefore, make sure your business is involved in such industries.

What are the benefits of getting msme loan from government?

There are various benefits offered by the government to msme business loan borrowers. 

It provides multiple subsidy beneficial schemes to micro small medium enterprises.

Which bank is best for msme loan?

Almost all government banks have similar rates & terms which considered to be the best banks for msme business loan.

What is msme loan?

This type of credit facility comes under unsecured category & offered by several financial institutions to MSME Sector business to meet specific requirements.

Who is eligible for msme loan?

The applicant's age should be between 22 - 60 years and business existence should be at least 1 year old with a minimum annual turnover should be 24 lacs.

Related Topics

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business Credit Report
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Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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